Get all latest income tax news, act, article, notification, circulars, instructions, slab on Taxguru.in. Check out excel calculators budget 2017 ITR, black money, tax saving tips, deductions, tax audit on income tax.
Income Tax : Tax Audit Form 26 now requires reporting of both quantity and value of principal stock, purchases, and sales. The key takeaway is ...
Income Tax : This article examines whether educational institutions with receipts up to Rs. 5 crore must obtain RNPO registration to claim exem...
Income Tax : This article explains why ELSS redemption gains are taxable despite offering tax deductions at the time of investment. It highligh...
Income Tax : Learn how the increased Rs. 1.25 lakh exemption and 12.5% LTCG tax rate apply to listed shares and equity mutual funds. The guide ...
Income Tax : The Income Tax Department explains how the e-Verification Scheme addresses mismatches between reported financial transactions and ...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : ITAT Delhi held that cash deposits arising from recorded and accepted cash sales cannot be added as unexplained cash credits under...
Income Tax : ITAT Mumbai held that Compulsorily Convertible Debentures cannot be equated with call options and that no option premium arose fro...
Income Tax : ITAT Bangalore held that RBI's classification of compulsorily convertible debentures as equity for FDI purposes cannot determine t...
Income Tax : ITAT Delhi held that no disallowance under Rule 8D(2)(ii) could be made where investments yielding exempt income were financed fro...
Income Tax : ITAT Mumbai held that Compulsorily Convertible Debentures retain their character as debt until conversion into equity. It deleted ...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
ITAT Guwahati held that submission of documents proved the identity of the creditors, however, genuineness of the transactions is not proved. Matter set aside for fresh consideration.
ITAT Jaipur held that there cannot be a second round of penalty for same defaults. Accordingly, penalty imposed u/s 271(1)(b) of Income Tax Act for second time is unsustainable.
Navigate the impact of TCS on international credit card payments post-FEMA amendments. Understand LRS, increased TCS rates, and get tips on managing expenses and compliance for seamless overseas transactions. Stay informed to plan your spending wisely.
Explore the tax implications of receipts under section 68 of the Income Tax Act, 1961. Understand the background, elements, onus of proof, and government actions in dealing with undisclosed income and alleged transactions. Learn about the tax rates and penalties applicable under section 115BBE and 271AAC.
Learn about the meaning of donation under the Income Tax Act, 1961, and explore the types of donations, deductions, and conditions for claiming them in India.
I have heard of Powers of CIT(A) which is the first appellate authority and the same are contained in Section 251 which provides that the CIT(A) can confirm, reduce, enhance or annul the assessment and he may also confirm, cancel, enhance or to reduce the penalty.
Smt. Savitri Devi Vs ITO (ITAT Amritsar) The entire issue is in two parts, one is legal issue by challenging the jurisdiction of notice u/s 148 and the jurisdiction of the ld. AO related to calculation of capital gain of the assessee without referring the issue to DVO. The last issue was challenged by the […]
Malwa Coop. L & C Society Ltd Vs ITO (ITAT Amritsar) In its fact, that the gross receipt should be determined by allowing the reasonable deduction of the items like TDS, VAT, security letter cess and other deduction. Accordingly, the assessee made a correct calculation related to calculation of the contract receipt. Both the Revenue […]
The Income Tax Department has enabled the Income-tax Returns Form ITR 1 and ITR 4 at the income tax e-filing portal in Online mode with prefilled data. The availability of prefilled data in Income-tax Returns Form ITR 1 and ITR 4 at the income tax e-filing portal for AY 2023-24 is a significant development by […]
You can invest up to ₹1.5 lakh per year in specified instruments to avail deductions under Section 80C. For example, if you invest ₹1.5 lakh in a tax-saving fixed deposit with a lock-in period of 5 years and an interest rate of 6%, you can save tax on the entire investment amount.
